2013年03月12日

Michael Kors Shareholders to Offer 25 Million Shares

Michael Kors Holdings Ltd
Michael Kors Outlet Online. (KORS) said certain stockholders plan to offer 25 million shares, as investors look to cash in following a recent run-up of the specialty retailer's shares.
Among the selling shareholders, Hong Kong private-equity firm Sportswear Holdings Ltd. will sell about 20 million shares, reducing its current 15.6% ownership stake to 5.8%, according to a filing with the Securities and Exchange Commission. Michael Kors, the company's honorary chairman and chief creative officer, will offer three million shares, lowering his current 3.9% stake to 2.4%.
The company had about 200.3 million ordinary shares outstanding as of Feb. 13, according to the filing.
Michael Kors's stock has been on a run of late, climbing 55% over the past 12 months. The shares have jumped 15% this month alone, amid the company's latest blockbuster results.
Last week, the company reported its fiscal third-quarter earnings surged as it continued to see strong demand for its high-end merchandise and continued opening stores. Earnings and revenue beat expectations and Michael Kors raised its fiscal-year guidance

Michael Kors bags

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The company, which went public in December 2011, sells handbags, clothing, footwear and other apparel and accessories through shops-within-shops in luxury department stores and its own company-operated shops
example.
Shares were off 2.8% to $63.03 after hours Tuesday.
posted by michaelkorscheap at 12:10| Comment(1) | 日記 | このブログの読者になる | 更新情報をチェックする

Michael Kors Sells Another $185 Million of His Stock

Michael
example Kors, the famed designer, is padding his silk, well-cut pockets again.
Getty ImagesSince taking his namesake public on the New York Stock Exchange in December 2011, Mr

Michael Kors bags

. Kors has already sold about 16 million shares, including in the IPO, and this week is selling at least 3 million more, drawing down his ownership and bringing in big gains along the way .The latest offering, with insiders selling a total of 25 million shares, was announced Tuesday evening, just after the shares closed at a new high of $64.84. It priced on Wednesday night at $61.50, not even a discount to that day’s close.Mr. Kors will now hold just 2.4% of shares, about 4.85 million of them, and that could fall to as low as 2.2% if underwriters exercise their overallotment, according to a filing. Before the IPO, Mr. Kors held about 11.7% of all shares, over 22 million in total.And for the fourth time in four tries, Mr. Kors and the other selling shareholders have managed to sell their shares at a higher price that the previous offering. The latest sale wasdone at $53 in September, before thatit was $47 in Marchand before that the IPO was priced at $20.The funds the shareholders have reaped have been Michael Kors Outlet enormous.
posted by michaelkorscheap at 12:09| Comment(1) | 日記 | このブログの読者になる | 更新情報をチェックする

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